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Former Carson sidekick $644,000 behind on mortgage payments

Ed McMahon, 85, has been unable to work as a pitchman for various products since he broke his neck 18 months ago, said his spokesman Howard Bragman.

LOS ANGELES - Ed McMahon, who for decades appeared as Johnny Carson's sidekick on "The Tonight Show," is fighting to avoid foreclosure on his multimillion-dollar Beverly Hills home, according to published reports.

The former "Star Search" host was $644,000 behind on payments on $4.8 million in mortgage loans when a unit of Countrywide Financial Corp. filed a default notice Feb. 28 with the Los Angeles County Recorder's Office, The Wall Street Journal first reported late Tuesday.

McMahon, 85, has been unable to work as a pitchman for various products since he broke his neck 18 months ago, said his spokesman, Howard Bragman.

"There are plenty of people affected by the weak economy, bad housing market or bad health," Bragman said.

McMahon has been in "very fruitful discussions" with the lender to resolve the situation, Bragman said. But it's unclear whether McMahon and his wife, Pamela, will remain in the home.

A spokesman for Countrywide declined comment to the Los Angeles Times.

The six-bedroom, five-bath house is in a hilltop gated community overlooking Mulholland Drive called The Summit and is listed for sale at $6.25 million. It has been on the market two years, according to real estate agent Alex Davis, who has the listing.

The house is near that of pop star Britney Spears, which doesn't always work in its favor.

"When we were trying to sell the house one time, there were about 100 paparazzi there," Davis said.

http://www.msnbc.msn.com/id/24965435/
 

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People like Ed McMahon have made a lot of money in their life time. However, it really doesn't matter how much you make or have made if you can't live within your means. Professional boxers are always at the top of the rags to riches back to rags stories like this...
 

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It's amazing he didn't plan better for when he would no longer be able to work - not everybody that makes money is intelligent.
 

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Maybe he could try licking some stamps and sending in those publishers clearinghouse mailers. LOL
 

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Maybe he should try a reverse mortgage? :twisted:
 

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Maybe he should try a reverse mortgage? :twisted: Yes some people are not good with there money and it's a sad thing to lose your home. :(
 

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blkbd said:
Maybe he should try a reverse mortgage? :twisted: Yes some people are not good with there money and it's a sad thing to lose your home. :(
Yup - stupid people should not be offered bank loans
 
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